Short Interest in Sunshine Biopharma, Inc. (NASDAQ:SBFM) Drops By 57.7%

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was the target of a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 360,900 shares, a drop of 57.7% from the June 30th total of 852,200 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average daily volume of 4,040,000 shares, the days-to-cover ratio is currently 0.1 days.

Sunshine Biopharma Stock Performance

Sunshine Biopharma stock remained flat at $0.30 during mid-day trading on Friday. The company’s stock had a trading volume of 431,856 shares, compared to its average volume of 1,095,297. The company has a fifty day moving average of $0.45 and a 200 day moving average of $6.40. Sunshine Biopharma has a fifty-two week low of $0.28 and a fifty-two week high of $64.50. The stock has a market capitalization of $7.03 million, a PE ratio of -0.02 and a beta of 1.42.

Sunshine Biopharma (NASDAQ:SBFM) last announced its quarterly earnings results on Monday, May 20th. The company reported ($2.00) earnings per share (EPS) for the quarter. Sunshine Biopharma had a negative net margin of 15.29% and a negative return on equity of 17.95%. The business had revenue of $7.54 million for the quarter.

Institutional Investors Weigh In On Sunshine Biopharma

A hedge fund recently raised its stake in Sunshine Biopharma stock. Armistice Capital LLC grew its position in shares of Sunshine Biopharma, Inc. (NASDAQ:SBFM) by 118.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,130,000 shares of the company’s stock after buying an additional 1,156,000 shares during the period. Armistice Capital LLC owned approximately 8.29% of Sunshine Biopharma worth $578,000 at the end of the most recent quarter. Institutional investors and hedge funds own 41.98% of the company’s stock.

Sunshine Biopharma Company Profile

Sunshine Biopharma, Inc, a pharmaceutical company, focuses on the research and development of life-saving medicines in various therapeutic areas, including oncology and antivirals in the United States and Canada. It operates in two segments, Prescription Generic Pharmaceuticals and Nonprescription Over-The-Counter Products.